Oxford Lane Capital (NASDAQ:OXLC) Raised to “Sell” at BidaskClub

BidaskClub upgraded shares of Oxford Lane Capital (NASDAQ:OXLC) from a strong sell rating to a sell rating in a research note released on Tuesday morning, BidAskClub reports.

Separately, Zacks Investment Research downgraded ExlService from a hold rating to a sell rating in a report on Wednesday, July 10th.

Shares of NASDAQ OXLC traded up $0.03 during trading hours on Tuesday, hitting $10.76. The company had a trading volume of 112,664 shares, compared to its average volume of 484,473. Oxford Lane Capital has a 1-year low of $7.35 and a 1-year high of $11.50. The firm’s 50 day moving average price is $10.27.

The firm also recently declared a monthly dividend, which will be paid on Friday, August 30th. Investors of record on Friday, August 23rd will be paid a $0.135 dividend. This represents a $1.62 dividend on an annualized basis and a yield of 15.06%. The ex-dividend date is Thursday, August 22nd.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Cetera Advisor Networks LLC raised its stake in Oxford Lane Capital by 6.7% in the 1st quarter. Cetera Advisor Networks LLC now owns 131,351 shares of the investment management company’s stock valued at $1,292,000 after acquiring an additional 8,296 shares during the period. Wiley BROS. Aintree Capital LLC increased its position in Oxford Lane Capital by 262.9% during the 2nd quarter. Wiley BROS. Aintree Capital LLC now owns 101,766 shares of the investment management company’s stock worth $1,026,000 after buying an additional 73,727 shares during the period. LPL Financial LLC increased its position in Oxford Lane Capital by 36.3% during the 4th quarter. LPL Financial LLC now owns 56,670 shares of the investment management company’s stock worth $550,000 after buying an additional 15,100 shares during the period. Commonwealth Equity Services LLC increased its position in Oxford Lane Capital by 46.7% during the 4th quarter. Commonwealth Equity Services LLC now owns 54,971 shares of the investment management company’s stock worth $533,000 after buying an additional 17,487 shares during the period. Finally, Deutsche Bank AG increased its position in Oxford Lane Capital by 1,310.3% during the 4th quarter. Deutsche Bank AG now owns 45,636 shares of the investment management company’s stock worth $442,000 after buying an additional 42,400 shares during the period.

About Oxford Lane Capital

Oxford Lane Capital Corp. is a close ended fund launched and managed by Oxford Lane Management LLC. It invests in fixed income securities. The fund primarily invests in securitization vehicles which in turn invest in senior secured loans made to companies whose debt is rated below investment grade or is unrated.

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